Hobby, who is currently head of research and marketing at the Hay Group management consultancy, will take up the post from September 2010.
He replaces Mick Brookes, who has led the organisation for five years.
Hobby does not have a background in teaching, but has worked with a number of education institutions including the National College and the General Teaching Council.
Brookes welcomed the appointment of his successor.
"I am delighted that Russell Hobby's considerable expertise will be leading the NAHT in what is certain to be a tough time for school leaders," he said. "He will be a strong and informed voice for leadership."
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